Northeast Asia

South Korea's KEB Hana Bank found a stronger response than expected for its sustainability bond this week, allowing it to raise $600m.

WH Group has turned to banks for about $1.25bn to fund a share buy-back, as the world’s largest pork company takes advantage of attractive market conditions to raise a new loan. Unlike its acquisition fundraising eight years ago, which received plenty of criticism and pushback from lenders, the market’s response this time around is different — despite some initial confusion, writes Pan Yue.

Chinese property company Evergrande Group’s dollar bonds have plummeted in the secondary market, following news that regulators are scrutinising the borrower. The effect has been far-reaching — dampening sentiment for other high yield real estate bonds and putting both investment bankers and investors on guard. Morgan Davis reports.

Countries around the world are announcing all kinds of incentives to encourage people to get vaccinated. But access to alcohol may offer the most appeal.

Chengdu Quanyuantang Pharmacy Chain has started laying the foundation for its Hong Kong IPO, filing initial listing documents with the bourse this week.

Hong Kong department store chain Lifestyle International Holdings returned to the debt market this week after a two-year break to raise $350m.

Kaisa Group Holdings battled a volatile market for Chinese high yield issuers on Tuesday when it kicked off a $280m tap, as news around banks’ exposure to peer property credits rattled investors.

Chinese company Sany Heavy Industry Co has returned to the offshore loan market after a nine-year absence for $600m.

China Everbright Bank priced its $600m bond through fair value this week, buoyed by strong demand from the syndicate team helming the deal.

BMW Automotive Finance (China) sold a Rmb8bn ($1.25bn) auto loan ABS on Tuesday, its second outing this year. It slashed the revolving period to one month versus 14 in the last deal.

Hong Kong developer Pacific Century Premium Developments (PCPD) printed a $700m deal on Tuesday as part of its efforts to tender a 2022 bond.

China Logistics Property Holdings Co built up strong demand for its HK$778.8m ($100.4m) placement on Tuesday evening, but its stock came under selling pressure the following day.